Lawmakers in Alabama acted on Thursday to save the state’s struggling prepaid-tuition plan, known as PACT, according to the Associated Press. A combination of rising tuition costs and plunging investment values led analysts to predict that the plan would have had to close after the fall semester of 2011 if it did not receive additional funds. The state’s Legislature agreed to provide $547.6-million in annual installments to PACT through 2027, which would protect existing participants.
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